ExxonMobil Guyana has awarded Japan's MODEC the full engineering, procurement, construction, and installation (EPCI) scope for a floating production, storage, and offloading (FPSO) vessel for its seventh offshore oil development in the Stabroek block. The contract follows ExxonMobil's final investment decision for the USD 6.8 billion Hammerhead project off the coast of Guyana.

The full EPCI scope award comes months after MODEC received a limited notice to proceed in April 2025, which enabled the company to begin FPSO design activities in support of the earliest possible start-up in 2029, subject to required government approvals. MODEC reports that the first phase of the contract, covering front-end engineering and design (FEED), has been completed, and the firm is now advancing to phase two, which entails EPCI execution readiness in line with project governance.

Project Specifications and Technical Details

The Hammerhead FPSO will have an initial annual average production capacity of 150,000 barrels of oil per day, along with associated gas and water. The vessel will be moored at a water depth of approximately 1,025 meters, utilizing SOFEC's spread mooring system. This marks MODEC's second FPSO for use in Guyana, following the Errea Wittu, which is currently being built for ExxonMobil Guyana's Uaru project. MODEC will provide ExxonMobil with operations and maintenance services for the FPSO for ten years from the first oil date.

Production Impact and Timeline

The Hammerhead project is expected to add between 120,000 and 180,000 barrels per day to production capacity, increasing Guyana's overall production capacity to nearly 1.5 million barrels per day once it comes online in 2029. The project represents ExxonMobil's seventh deepwater oil development in Guyana's Stabroek block. ExxonMobil has also contracted TechnipFMC and Saipem to assist in bringing the Hammerhead project to completion, alongside MODEC's FPSO work.

Partnership Structure and Company Statements

The Stabroek block partners include ExxonMobil as operator with a 45% interest, Hess (now part of Chevron) with 30%, and CNOOC Petroleum Guyana with 25%. ExxonMobil Guyana is a subsidiary of the U.S.-headquartered ExxonMobil. Soichi Ide, Head of Floating Production Solutions Business Unit of MODEC, commented on the contract award: “We are honored to be entrusted with the full EPCI scope for Hammerhead. This award reflects MODEC's integrated capabilities to design, build, and operate, from concept and FEED through to safe execution and timely delivery of the project.”

Ide added: “Building on the strong progress we've made on the Uaru project, this milestone further underscores the momentum of our collaboration. MODEC's strategic relationship with ExxonMobil Guyana positions us to work with them and our stakeholders to create lasting value throughout the project lifecycle.”

Connect with Decision-makers about the Latest FPSO & FSO (Oil & Gas) Projects in Guyana for business Opportunities.

Subscribe to our database on FPSO & FSO (Oil & Gas) Projects and Tenders in Guyana to get access to reliable and high-quality insights on upcoming, under-construction, and completed FPSO & FSO (Oil & Gas) Projects across the world or in your desired geographical location.

Our user-friendly platform provides essential details, timely updates, key stakeholder contact information, and business opportunities tailored for engineering companies, industry professionals, investors, and government agencies.